S&P Futures in an ascending wedge pattern - Look out below!
S&P E-mini Futures is in an ascending wedge pattern on the daily timeframe.
This pattern can also be found on other time frames if one should prefer the weekly for example.
A break below 3130, and consequently another candle close below this level on high volume would confirm the break.
The measured move for this pattern is easily 25% to the downside, perhaps even more.
All momentum oscillators show there is now a lot of room for this move to happen. A break and close above the 3231 level would invalidate the pattern.
There are several support levels to the downside, and I do expect a small bounce / bear flag to form before we break (IF we break).
This pattern can also be found on other time frames if one should prefer the weekly for example.
A break below 3130, and consequently another candle close below this level on high volume would confirm the break.
The measured move for this pattern is easily 25% to the downside, perhaps even more.
All momentum oscillators show there is now a lot of room for this move to happen. A break and close above the 3231 level would invalidate the pattern.
There are several support levels to the downside, and I do expect a small bounce / bear flag to form before we break (IF we break).
Nota
Ladies and gentlemen, we have a break-down!Nota
Be tolerant with others and strict with yourself.
- Marcus Aurelius
- Marcus Aurelius
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Be tolerant with others and strict with yourself.
- Marcus Aurelius
- Marcus Aurelius
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.